Research Nester released a report titled “Global High End Inertial Sensors IMUs And INS Market Outlook: Industry Analysis & Opportunity Evaluation 2018-2027” which delivers detailed overview of the global high-end inertial sensors, IMUs and INS market in terms of market segmentation by technology, by application, by performance grade, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Companies in the High-End inertial sensor market are increasingly expanding in terms of the introduction of new products and venturing into unexplored geographies through various strategies such as Joint Venture and Strategic Partnerships.
The revenue generated by the global high-end inertial sensors, IMUs and INS market in 2018 was USD 3191.50 million. Several factors are expected to aid the growth of the market such as rising demand for autonomous land as well as air vehicles accompanied by increasing automobile production across the developing regions of the world. Additionally, rapid industrialization and increasing competition among fast growing economies of Asia-Pacific region to increase their defense budgets that would include allocation of additional expenses on sophisticated war missiles, aircrafts, helicopters, drones and other equipment that use navigation sensors is estimated to boost the growth of the high-end inertial sensors, IMUs and INS market.
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The global high-end inertial sensors, IMUs and INS market is projected to attain massive growth over the next decade with revenues estimated to cross USD 5,150 Million by the end of 2027 by expanding at a CAGR of 5.6% over the forecast period, i.e., 2019-2027.
The market share across North American region comprising of U.S.A. and Canada is estimated to be highest (30.50% in terms of value) in 2027
owing to multiple factors such as the presence of some of the largest INS and IMU manufacturers such as Northrop Grumman Corporation, Honeywell International Inc., Moog Inc., General Electric Company and others across U.S.A. Moreover, the commercial aerospace sector across U.S.A. is estimated to increase manufacturing output in response to higher domestic and international demand for commercial aircraft and related platforms, which is further estimated to drive the growth of inertial navigation and measurement systems market in the near future.
The global market is segmented into five types on the basis of performance grade into navigation grade, commercial grade, marine grade, tactical grade and space grade, out of which, the navigation grade segment is estimated to hold leading market share and is expected to generate significant revenue by 2027. At the same time, the commercial grade segment is expected to grow at a highest CAGR of 6.3% (in terms of value) over the forecast period.
Nevertheless, the presence of global recession, active efforts pursued by organizations such as WTO, UNCTAD to reduce conflicts that may lower the spending of nations towards military equipment are some of the factors that are estimated to act as a deterrent to growth of the market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global high end inertial sensors, IMUs and INS market which includes company profiling of Honeywell International Inc., Northrop Grumman Corporation, Bosch Sensortech GmbH, Safran Electronics & Defense, Thales Group, General Electric Company, Rockwell Collins Inc., STMicroelectronics and Trimble Inc. among others.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global high end inertial sensors, IMUs and INS market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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